What did the Tribunal hold?

The Tribunal accepted the assessee's submission that the tax effect was below the monetary limit. Therefore, the Revenue was precluded from filing the appeal.

The Revenue filed four appeals before the ITAT against the orders of the CIT(A). The assessee's counsel submitted that the tax effect in these appeals was below the monetary limit prescribed by CBDT for filing appeals.

What were the issues?

Whether the Revenue's appeals are admissible before the Tribunal when the tax effect is below the monetary limit prescribed by CBDT circulars.

ACIT vs Shriram Epc Limited | ITAT Chennai 2019

Before: Shri Inturi Rama Rao & Shri Duvvuru R.L. Reddy

Hearing: 15.10.2019Pronounced: 17.10.2019

O R D E R

PER DUVVURU RL REDDY, JUDICIAL MEMBER:

All the four appeals filed by the Revenue relating to same assessee are directed against two different orders of the ld. Commissioner of Income Tax (Appeals) 15, Chennai dated 26.02.2018 relevant to the assessment years 2005-06, 2006-07, 2007-08 and 2008-2009.

At the time of hearing the ld. Counsel for the assessee has submitted that the tax effect in these appeals filed by the Revenue are less than the monetary limit of ₹.50,00,000/- fixed by the CBDT to file an appeal by the Revenue before the Tribunal as per the CBDT Circular No. 17/2019, dated 08.08.2019. The ld. DR fairly conceded the submissions made by the ld. Counsel for the assessee. Being so, the Revenue authorities are precluded from filing the appeal before the Tribunal, since the tax effect is less than ₹.50,00,000/- in these appeals. Accordingly, the appeals filed by the Revenue are dismissed as un-admitted.

In the result, all the appeals filed by the Revenue are dismissed. Order pronounced on the 17th October, 2019 at Chennai.

ACIT CORPORATE CIRCLE 6(1), CHENNAI vs. SHRIRAM EPC LIMITED, CHENNAI

What did the Tribunal hold?

What were the facts?

What were the issues?

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